Gold values plunge to five-year low

Gold prices have plunged to a five-year low this week, as the US dollar continues to rebound.

The dollar's continuing strength has fuelled expectations of a rise in interest rates in the near future. As a result, gold's appeal as an alternative investment declined, prompted the precious metal's value to fall more than 1 per cent on Wednesday, a decrease that follows a 3 per cent dip on Monday.

Reuters